Philippines - Synthetic Rubber - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSynthetic Rubber Price in the Philippines - 2023
Contents:
- Synthetic Rubber Price in the Philippines (CIF) - 2023
- Synthetic Rubber Price in the Philippines (FOB) - 2023
- Synthetic Rubber Imports in the Philippines
- Synthetic Rubber Exports in the Philippines
Synthetic Rubber Price in the Philippines (CIF) - 2023
In June 2023, the average synthetic rubber import price amounted to $2,098 per ton, declining by -2% against the previous month. Overall, the import price recorded a slight descent. The pace of growth appeared the most rapid in November 2022 an increase of 28% month-to-month. Over the period under review, average import prices attained the peak figure at $2,625 per ton in August 2022; however, from September 2022 to June 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Singapore ($2,886 per ton), while the price for Russia ($1,440 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Russia (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Synthetic Rubber Price in the Philippines (FOB) - 2023
In June 2023, the average synthetic rubber export price amounted to $530 per ton, declining by -15.7% against the previous month. Overall, the export price recorded a perceptible decrease. The growth pace was the most rapid in March 2023 when the average export price increased by 22% against the previous month. The export price peaked at $890 per ton in June 2022; however, from July 2022 to June 2023, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for China.
From June 2022 to June 2023, the rate of growth in terms of prices for China amounted to -2.0% per month.
Synthetic Rubber Imports in the Philippines
Synthetic rubber imports into the Philippines dropped markedly to 32K tons in 2022, which is down by -21.4% on the previous year. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 75%. As a result, imports attained the peak of 41K tons, and then fell dramatically in the following year.
In value terms, synthetic rubber imports declined dramatically to $63M in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 111%. As a result, imports attained the peak of $86M, and then declined sharply in the following year.
Import of Synthetic Rubber in the Philippines (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
Japan | 22.4 | 10.4 | 23.6 | 2.6% | |
Taiwan (Chinese) | 8.8 | 6.7 | 15.3 | 31.9% | |
South Korea | 8.0 | 6.7 | 12.4 | 24.5% | |
Singapore | 7.1 | 6.2 | 10.2 | 19.9% | |
China | 4.6 | 2.8 | 8.7 | 37.5% | |
Malaysia | 1.6 | 1.9 | 5.6 | 87.1% | |
Russia | 5.1 | 3.6 | 1.8 | -40.6% | |
United Arab Emirates | N/A | N/A | 0.9 | 0% | |
Others | 5.3 | 2.3 | 7.2 | 16.6% | |
Total | 62.8 | 40.6 | 85.6 | 16.8% |
Top Suppliers of Synthetic Rubber to the Philippines in 2022:
- Taiwan (Chinese) (9.0K tons)
- Japan (8.7K tons)
- South Korea (6.7K tons)
- China (4.3K tons)
- Singapore (4.2K tons)
- Malaysia (3.0K tons)
- United Arab Emirates (2.8K tons)
- Russia (1.2K tons)
Synthetic Rubber Exports in the Philippines
In 2022, shipments abroad of synthetic rubber decreased by -32.8% to 3.9K tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 190% against the previous year. As a result, the exports attained the peak of 5.9K tons, and then shrank markedly in the following year.
In value terms, synthetic rubber exports shrank dramatically to $2.8M in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 175% against the previous year. As a result, the exports attained the peak of $4.1M, and then fell rapidly in the following year.
Export of Synthetic Rubber in the Philippines (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
China | 1.6 | 1.2 | 3.7 | 52.1% | |
Others | N/A | 0.3 | 0.3 | 0.0% | |
Total | 1.6 | 1.5 | 4.1 | 60.1% |
Top Export Markets for Synthetic Rubber from the Philippines in 2022:
- China (4.7K tons)
This report provides an in-depth analysis of the synthetic rubber market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20171050 - Synthetic latex rubber
- Prodcom 20171090 - Synthetic rubber (excluding latex)
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the synthetic rubber market in the Philippines.
This report provides an in-depth analysis of the market for isoprene rubber (ir) in primary form in the Philippines.
This report provides an in-depth analysis of the market for synthetic rubber (excluding latex) in the Philippines.
This report provides an in-depth analysis of the synthetic latex rubber market in the Philippines.
This report provides an in-depth analysis of the global synthetic rubber market.
This report provides an in-depth analysis of the global market for isoprene rubber (ir) in primary form.
This report provides an in-depth analysis of the global market for synthetic rubber (excluding latex).
This report provides an in-depth analysis of the global synthetic latex rubber market.
This report provides an in-depth analysis of the synthetic rubber market in the Philippines.
This report provides an in-depth analysis of the market for isoprene rubber (ir) in primary form in the Philippines.
Learn about the growing demand for synthetic rubber worldwide and the anticipated market trends from 2023 to 2030, including projected increases in both volume and value.
In 2016, the amount of synthetic rubber imported worldwide amounted to X tons, approximately mirroring the previous year level. The total import volume increased at an average annual rate of +X>
In 2016, the amount of synthetic rubber imported worldwide amounted to X tons, approximately mirroring the previous year level. The total import volume increased at an average annual rate of +X>
Discover the top import markets for synthetic rubber (excluding latex) with key statistics and analysis. Learn about the leading countries driving the demand for synthetic rubber. Read more on IndexBox market intelligence platform.
Discover the top import markets for synthetic latex rubber and their key statistics. Malaysia, China, and Thailand lead the way, according to IndexBox data.
Learn about the growing demand for synthetic rubber worldwide and the anticipated market trends from 2023 to 2030, including projected increases in both volume and value.
In 2016, the amount of synthetic rubber imported worldwide amounted to X tons, approximately mirroring the previous year level. The total import volume increased at an average annual rate of +X>
In 2016, the amount of synthetic rubber imported worldwide amounted to X tons, approximately mirroring the previous year level. The total import volume increased at an average annual rate of +X>
Discover the top import markets for synthetic rubber (excluding latex) with key statistics and analysis. Learn about the leading countries driving the demand for synthetic rubber. Read more on IndexBox market intelligence platform.
Discover the top import markets for synthetic latex rubber and their key statistics. Malaysia, China, and Thailand lead the way, according to IndexBox data.